Tuesday, October 17 2017 @ 01:37 AM AST
Contributed by: michaelariston
In an address to scores of stakeholders in the sector attending a Corporate Trust and Service Providers Seminar in the Grande Salle, Tom Adams Financial Centre, the Minister revealed that the licences of four companies would be revoked shortly, over allegations of money laundering, corrupt practices and defrauding citizens in foreign jurisdictions.
“It was recently drawn to the Ministry’s attention that we were able to identify a few companies that have not been cooperating as they should or have beneficial owners who have been charged and found guilty of some activity which we do not wish to be associated with in Barbados. Therefore, I as Minister shall, over the next few days, be revoking the licences of such associated companies,” Mr. Inniss revealed.